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It is currently Fri Nov 28, 2014 12:26 pm




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 Post subject: Gambling issues and investment
PostPosted: Mon Jan 07, 2013 10:12 am 

Joined: Mon Nov 26, 2012 10:18 am
Posts: 30
Has anyone with gambling issues had it affect their investing? Either by keeping you from investing or causing you to make bad high-risk investments?


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 Post subject: Re: Gambling issues and investment
PostPosted: Tue Jan 08, 2013 2:44 pm 

Joined: Tue Aug 21, 2012 1:33 pm
Posts: 21
Apparently not, huh?

I can't say I've had experience with this. However, I think that most people's investments should be relatively low risk and attention free. If you can, have money taken out of your paycheck and put into a 401K or the like invested in an index fund or Vanguard or whatever low fee mutual fund and bonds. Then ignore it. Maybe look at it once a year and rebalance. Or, my 401k company does the rebalancing for me, and I would only need to make changes as I approached retirement.

If you have had a real problem with gambling, I'd stay away from any exotic or non-standard investments and ANY investments that you can't afford to lose.


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 Post subject: Re: Gambling issues and investment
PostPosted: Tue Jan 08, 2013 3:30 pm 

Joined: Mon Nov 01, 2010 5:15 pm
Posts: 1214
I used to work with a guy who lost somewhere around $150,000 of his mother's life savings in less than a year day trading. Does that count?

I tried to warn him... :puke:


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 Post subject: Re: Gambling issues and investment
PostPosted: Tue Jan 08, 2013 4:22 pm 
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Joined: Wed Sep 23, 2009 9:01 am
Posts: 5402
Tightwad wrote:
I used to work with a guy who lost somewhere around $150,000 of his mother's life savings in less than a year day trading. Does that count?


He wasn't gambling. He was managing investments. Mom was gambling.


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 Post subject: Re: Gambling issues and investment
PostPosted: Tue Jan 08, 2013 6:07 pm 

Joined: Mon Nov 01, 2010 5:15 pm
Posts: 1214
DoingHomework wrote:
Tightwad wrote:
I used to work with a guy who lost somewhere around $150,000 of his mother's life savings in less than a year day trading. Does that count?


He wasn't gambling. He was managing investments. Mom was gambling.

I didn't stick my nose too far in his business but I don't think mom understood what he was doing.


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